Categories
Business

Tech industry’s critical policy issues likely tabled as Congress heads for recess

U.S. House Speaker Nancy Pelosi shakes hands with Senate Majority Leader Chuck Schumer at the start of a discussion with historians on how to “establish and preserve the narrative of January 6th” on the one-year anniversary of the attack on the Capitol in Washington, January 6, 2022. Al Drago | Pool | Reuters Congress is […]

Categories
Business

Oil companies are giving back tons of cash — and other things we’ve learned this earnings season

A trader works at the New York Stock Exchange NYSE in New York, the United States, May 18, 2022. U.S. stocks plummeted on Wednesday as weak earnings from major retailers stoked concerns about the impact of inflation. Michael Nagle | Xinhua News Agency | Getty Images Source link

Categories
Business

Walmart lays off corporate employees after slashing forecast

Exterior view of a Walmart store on August 23, 2020 in North Bergen, New Jersey VIEW press | Corbis News | Getty Images Walmart has begun to lay off corporate employees, the company confirmed Wednesday, about a week after it slashed its profit outlook and warned that consumers had pulled back on discretionary spending due […]

Categories
Business

The confusing job market: Tech and finance brace for the worst, retail is mixed, travel can’t hire fast enough

Passengers at an American Airlines gate at the Dallas/Fort Worth International airport in Dallas. Scott Mlyn | CNBC It wasn’t long ago that Amazon, Shopify and Peloton doubled their workforces to manage through the pandemic surge, while Morgan Stanley staffed up to handle a record level of IPOs, and mortgage lenders added headcount as rock-bottom […]

Categories
Business

Senate won’t vote on tech antitrust bill before summer recess, Klobuchar says

U.S. Senate Rules and Administration Committee Chair Sen. Amy Klobuchar (D-MN) presides during a Senate Rules and Administration Committee oversight hearing to examine the U.S. Capitol Police following the January 6, 2021 attack on the Capitol, one day before the anniversary of the attack in Washington, U.S., January 5, 2022. Elizabeth Frantz | Reuters The […]

Categories
Business

Pinterest climbs on user numbers and Elliott investment even as financials disappoint

A woman walks past sign at the headquarters of Pinterest in the South of Market neighborhood of San Francisco. Smith Collection | Gado | Archive Photos | Getty Images Pinterest shares jumped on better-than-expected user numbers even as earnings and revenue missed estimates and the company gave weak guidance for the third quarter. Activist investor Elliott […]

Categories
Business

Amazon, Apple, Google and Tesla have all done it. Here’s why companies split their stock

Google is just one of dozens of companies recently making its stock more affordable. The tech giant’s parent company, Alphabet (GOOGL), split its two classes of shares (GOOG) by a 20-to1 ratio in July. Amazon (AMZN) made the same 20-for-1 move in June while Tesla (TSLA) announced around the same time that it’s going with […]

Categories
Business

Amazon shares rally after strong second quarter and guidance

Andy Jassy, chief executive officer of Amazon.Com Inc., during the GeekWire Summit in Seattle, Washington, U.S., on Tuesday, Oct. 5, 2021. David Ryder | Bloomberg | Getty Images Shares of Amazon jumped more than 12% on Friday, a day after the company posted stronger-than-expected second-quarter revenue and gave upbeat guidance. Sales for the three months […]

Categories
Business

Amazon jumps on revenue beat and rosy guidance for third quarter

Amazon shares climbed more than 13% in extended trading on Thursday after the company reported better-than-expected second-quarter revenue and gave an optimistic outlook. Here’s how the company did: EPS: Loss of 20 cents Revenue: $121.23 billion vs. $119.09 billion expected, according to Refinitiv Here’s how other key Amazon segments did during the quarter: Amazon Web Services: […]

Categories
Technology

Amazon says cloud-computing revenue rose 33%, topping Wall Street estimates

Amazon Web Services CEO Adam Selipsky speaks at the AWS Reinvent conference in Las Vegas on Nov. 30, 2021. Noah Berger | Getty Images Amazon said Thursday that revenue from its cloud segment rose 33% in the second quarter, beating analysts’ estimates. Amazon Web Services generated $19.74 billion in revenue in the period, according to […]